New DOL Fiduciary Rule Plan Coming Soon, Top Official Says

May 15, 2023 by Melanie Waddell

Issuing a new fiduciary rule is a “huge priority” for the Labor Department, Lisa Gomez, assistant secretary of Labor for the Employee Benefits Security Administration, said Thursday, noting that one should be released soon.

Speaking at the Employee Benefit Research Institute spring policy forum, held in Washington, Gomez said “things have changed so much in the retirement market and we are trying to acknowledge those changes, reflect how the system works best in this new world, reflecting on challenges there have been to the rule since 2016, and trying to come up with a proposal that will reflect all of that.”

Click HERE to read the full story via ThinkAdvisor

Originally Posted at ThinkAdvisor on May 11, 2023 by Melanie Waddell.